Updated: Fox will no longer sell most of their company to Disney

Update: Welp, that didn't last very long, did it? Mere moments after having published our original story, a report surfaced via Bloomberg stating that even though the talks between Fox and DIsney did take place, the discussion had stalled out several weeks ago. As a result, the deal is now considered dead, though I would remind everyone that stranger things have transpired in old Hollywood. Meaning that, just because the deal is taking a dirt nap today, does not mean that it won't be resurrected tomorrow. So much for my proper FANTASTIC FOUR movie, for now.

Reports are coming in from several outlets which state that 21st Century Fox, for the past few weeks, has been holding talks focused on selling most of the company to the Walt Disney Company. While some have already begun speculating about this potentially exciting news, sources close to Fox have said that the company wishes to move forward while focusing its efforts on the news and sports arenas of the entertainment world.

For the moment, no deal to sell a portion of the Fox company to Disney has taken place. CNBC reports that for Fox, the willingness to engage in sale talks with Disney stems from a growing belief among its senior management that scale in media is of immediate importance and there is not a path to gain that scale in entertainment through acquisition. The company is said to believe that a more tightly focused group of properties around news and sports could compete more effectively in the current marketplace.

It goes without saying that the landscape of entertainment is changing not by the day, but by the minute thanks to far-reaching outlets like Facebook, Google, Amazon, Netflix, Hulu, YouTube and countless others. For Disney, taking control of another movie studio and significant television production assets would act as an additional extension of the Mickey Mouse-style Voltron that I happen to know the company is building (not really, but really).

By now, you're head is likely to be exploding with the possibilities that this acquisition could present, though it's important to note that Disney would not purchase all of Fox, according to those with knowledge of the conversations. The reason for this is that the company could not own two broadcast networks and, as a result, could not purchase the Fox broadcasting network. Remember RJ Fletcher's nefarious plan in Weird Al's UHF? Yeah, it's the same thing, kinda. Furthermore, Disney would also not buy Fox's sports programming assets in the interest that marrying them with ESPN would be viewed as anti-competitive from an anti-trust point of view. Disney would also refrain from purchasing the networks local broadcasting affiliates, according to those in the know.

I'll tell you what Disney is interested in though, grabbing up Fox's Star and Sky, in addition to the entertainment network's FX and National Geographic brands.

While no price has been quoted, nor has a deal been written thus far, it's now being reported that Fox's stock is up by more than 7% since reports of the talks were revealed via CNBC and The Wall Street Journal. In light of the news, neither Fox nor Disney have been able to be reached for comment or confirmation.

Okay, y'all know what this means, right? I might actually get a proper FANTASTIC FOUR movie in the near future! INDIANA JONES meets LOST IN SPACE, people! Let's do this!

If this deal were to come to pass, what Fox properties would you like to see Disney get their plushy, white gloved mitts on? Let us know in the comments section below!

Extra Tidbit: The above "Disney" artwork was created by artist Diego Gomez of the San Francisco area. You can tune into his YouTube channel to see more cool hero-related mash-ups.
Source: CNBC



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